Cattle Lower on Thursday with Weakness in Cash

Live cattle futures are down a dime to 80 cents in most contracts on Thursday. A few scattered sales of $110 have been reported in the South so far on Thursday. Feeder cattle futures are down 90 cent sot $1.35 at midday. The CME feeder cattle index was down 16 cents to $133.05 on June 18. Wholesale boxed beef prices were higher on Thursday morning. Choice boxes were up 27 cents at $221.86 with Select boxes 23 cents higher @ $202.47. USDA estimated the week to date FI cattle slaughter @ 361,000 head. That was 9,000 head larger than the same point last year and down 3,000 from last week. Friday’s Cattle on Feed report is expected to show June 1 on feed numbers up 1.3% from last year. May placements are seen down 4.1%, with marketings up 0.8%. USDA reported 17,951 MT in weekly beef export sales during the week of June 13, with shipments running 19,292 MT.

Jun 19 Cattle are at $108.400, down $0.100,

Aug 19 Cattle are at $104.275, down $0.275,

Oct 19 Cattle are at $105.875, down $0.225,

Aug 19 Feeder Cattle are at $135.250, down $1.275

Sep 19 Feeder Cattle are at $135.825, down $1.175

Oct 19 Feeder Cattle are at $136.500, down $0.925

--provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
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